Front-month March ICE Brent crude oil futures surged more than $3/b to hit a high of $71.75/b at Wednesday’s Asia open, after Iran launched missiles striking two US military bases in Iraq. After hitting the high, March ICE Brent retreated to $70.81/b at 9:11 am Singapore time (0111 GMT), up $2.54/b from Tuesday’s settle. The front-month February NYMEX crude contract was up $2.20/b from Tuesday’s close at $64.90/b at 0111 GMT. Iranian state TV said Tehran had started an attack on US facilities in Iraq in retaliation for last week’s US drone strike in Baghdad that killed General Qassem Soleimani. The US Department of Defense said Iran launched more than a dozen ballistic missiles at bases housing US troops. “It is clear that these missiles were launched from Iran and targeted at least two Iraqi […]